Wells Fargo raised the firm’s price target on Ford (F) to $11 from $10 and keeps an Overweight rating on the shares. The firm notes Ford’s shares went up post-close after guiding tariffs better. The company expects to recoup only $1B of Novelis impact in 2026. Underlying Q4 adjusted EBIT looks weak when excluding tariff refund and Novelis, Wells adds.
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